The company that basically chased Uber out of China is now heading to Mexico.
Didi Chuxing is China’s largest ride-sharing company and is the second-most highly valued, venture-backed private firm in the world, behind Uber Technologies Inc. Last year, Didi acquired Uber’s China business after Uber lost roughly $2 billion trying to compete.
Now, Uber might want to look over its shoulder, as Didi is reportedly planning its first expansion outside China in the first quarter of next year. The company plans to launch a smartphone app in Mexico and will recruit local drivers to the platform.
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According to Reuters, Didi met with ProMexico about a month ago to discuss opportunities in the country. ProMexico is a government trade and investment body.
Although Didi hasn’t been directly competing with Uber in markets outside of China, the company has invested in Uber’s rivals including Lyft, Brazil-based 99, India’s Ola, Singapore’s Grab, Estonia’s Taxify, and Careem in the Middle East.